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Three Baltimore Marinas Seeking Strategic Partner

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War Horse Cities seeking strategic partner for future development

Three Baltimore Marinas Seeking Strategic Partner

 BALTIMORE, M.D. – (Oct. 29, 2019) – War Horse Cities, a prominent Baltimore investor, has engaged Colliers International Leisure Property Advisors to seek a partner for three Inner Harbor marinas that the company acquired in 2017.

“We’re looking for an experienced marina owner to come in and strategically partner with us,” said Steve Jennings, CFO at War Horse Cities. “The right partner will maximize opportunities available with these properties as we proceed with the management and development of the land-based assets. It is important that we have an experienced marina developer to provide the right expertise in this unique business.”

The properties are Lighthouse Point Marina, Clinton Street Marina and Inner Harbor Marina. All are located in Baltimore’s Inner Harbor, one of the most popular boating locations on the Chesapeake Bay, and are within a 5-minute ride of each other. The portfolio features over 650 slips/racks, quality commercial tenants and a full-service boatyard that includes an 80-ton travel lift.

War Horse has made significant improvements to the marinas in its approximately two years of ownership. This included numerous safety measures, adding high-speed fuel pumps; installing automated parking equipment; renovation of the Swim Club, upgrading WiFi; building a boater’s lounge, meeting and recreation space; bringing in a new restaurant and enhancing food and beverage options; and making various security upgrades. These key resort amenities will continue to be provided to Marina members and guests.

War Horse has retained Colliers International’s Leisure Property Advisors team, led by Andrew Cantor, Managing Director; Matt Putnam, Managing Director; and Dan Grovatt, Director, as the exclusive brokers for the three marinas. The team leads the leisure property practice group for Colliers International and specializes in leisure property brokerage and advisory services nationwide.

“Baltimore is seeing a lot of growth due to the medical and defense industries in the region,” said Grovatt. “Additionally, Baltimore’s $5.5 billion Port Covington waterfront redevelopment is poised to drive growth for the next few decades. Coupled with continued significant interest in marinas as an investment vehicle nationally, these marinas are well positioned to capitalize on the area’s growth in the years to come.”

Lighthouse Point Marina, the largest marina in the portfolio, is located at 2736 Lighthouse Point East. The property is managed by Oasis Marinas. Tenants include the well-reviewed Bo Brooks Restaurant and engineering firm Moffatt & Nichol. 

Clinton Street Marina is located at 1800 Clinton Street and is managed by tenant MarineMax, one of the largest boat sales companies in the boating industry.

Inner Harbor Marina, located at 400 Key Highway, is managed by Oasis Marinas. The marina is adjacent to the Rusty Scupper Restaurant.

For more information, please visit https://florida.colliers.com/charm-city-project or contact Dan Grovatt at (813) 871-8509.

 

About Colliers International 
Colliers International (NASDAQ, TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, has delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management.  

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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Matt Putnam

Managing Director, Leisure Property Advisors

Tampa

Matt Putnam is a founding partner and Managing Director of the Leisure Property Advisors. He specializes in the sale of marina, golf and leisure properties throughout the United States and Canada. Prior to becoming a broker, he served as the financial analyst and marketing coordinator for the National Golf and Resort Properties Group for two years. Mr. Putnam has held an active real estate license since 2006 and been in the Leisure Properties industry since 2009.

In addition to investment sales, Matt and his team focus on building advisory relationships with clients and routinely provide market research, financial analysis and management best practices at every point through the property ownership life cycle. Matt has served a wide range of clientele from single property owner-users to $100B pension funds and everything in between.

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Andrew Cantor is a founding partner and Managing Director for the Leisure Property Advisors, which specializes in the brokerage of marinas and other leisure focused properties throughout the United States and Caribbean.  Andrew works closely with Matt Putnam, Dan Grovatt and Kate Meyer on the execution of the team’s marina and leisure property assignments. 

Andrew brings over 25 years of real estate transaction and advisory experience to Colliers, including over 15 years specializing in marina and golf assets.  In addition to his expertise in property sales, Andrew is recognized as an expert in marina and golf course finance.  In 2004, Mr. Cantor started Textron Financial’s marina lending program, which he grew into the largest marina lender in the nation. As a member of Textron’s Golf Finance Division, he underwrote over $600M in acquisition, refinance and construction loans on golf courses and resorts throughout North America.  Prior to Textron, he was Director of Acquisitions for KSL Fairways where he played a key role on a team that purchased eight golf facilities and the Doral Resort.  Mr. Cantor started his career at Arthur Andersen in the Real Estate Services Group.

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